ONE of Wales’ largest car auctions is seeing continued growth, despite a general down turn in the second hand car market in the UK.

Following a major investment in 2003, Newport Auctions based, in Usk Way, Newport has seen its sales turnover increase by 25% during the past two years to £11.5m, with almost 30,000 vehicles passing through the auction house every year.

As well as the increasing vehicle sales to the general public and an upturn in auction attendance, Newport Auctions has increased business by securing major contracts with main dealers, car fleet and leasing companies including Caledonia Citroen, Days Motor Group, SG Mercedes, Rydale, Trainer Group and Autopia Motor Group.

Managing director of Newport Auctions, Jonathan Collingbourne, said, “Whilst the second hand car market has generally struggled in recent years, as is evident in the decline of high street second hand car dealerships, we have seen increased demand for second hand vehicles.

“This suggests that the perception of auctions has evolved considerably and the image of finding old bangers at car auctions has long gone.

Posted: 06|28|06 at 7:34 am. Filed under: UK News.